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Versa Networks Raises $120 Million in Pre-IPO Funding Round

Secure access service edge (SASE) solutions provider Versa Networks announced on Thursday that it has raised $120 million in a pre-IPO funding round.

The round, which brings the total raised by the company to nearly $320 million, was led by BlackRock, with participation from Silicon Valley Bank (SVB). The investment will be used to expand go-to-market strategies and enhance the company’s offering.

Versa SASE offers security, networking, and analytics in a single software operating system. The solution is designed to help enterprises secure application and user connectivity, and improve application performance and reliability.

The platform delivers SD-WAN, next-generation firewall, unified threat management, secure web gateway, zero trust network access, cloud access security broker, data loss prevention, user and entity behavior analytics, and remote browser isolation.

Versa says its solutions are used by thousands of organizations with hundreds of thousands of sites and millions of users.

“We are the only company that offers a fully integrated single-vendor SASE solution,” said Versa co-founder and CTO Apurva Mehta. “We saw this opportunity in the market coming more than five years ago, and since then have been providing enterprises around the world with a truly modern secure network.”

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.